Selbyville, Delaware, April 13, 2022 (GLOBE NEWSWIRE) —
The North America industrial boiler market size is expected to record a valuation of USD 2 billion by 2028, according to the most recent study by Global Market Insights Inc.
The market growth is attributed to the ongoing upgrading of traditional heating systems and rising government focus to reduce carbon emissions. The shifting focus toward the development of sustainable buildings along with several policies pertaining to tax incentives & rebates will augment the business landscape. Moreover, ongoing technological advancements have enabled the use of natural gas and shale gas as preferred feedstocks, which in turn, will foster product adoption.
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The 100 – 175 MMBtu/hr. capacity segment in the North America industrial boiler market is poised to register a significant growth due to the increasing demand for energy-efficient space and water heating solutions. Continuous expansion of refineries across the region in line with growing investments in the modernization of the food & beverage sector will stimulate the demand for these units. The ability of these systems to operate efficiently in severe weather conditions will further drive the industry progression.
The rapid utilization of steam boilers for high-temperature steam generation across metal processing industries will enhance the market expansion. Growing metal demand from major industries including construction & manufacturing will spur the industry landscape. Government policies for energy conservation and reduction of carbon emissions will accelerate the market demand for industrial boilers.
North America industrial boiler market for non-condensing technology is estimated to observe a 5% growth rate till 2028 on account of the rising demand for industrial space & water heating solutions coupled with the economic pricing. Growing applicability across large-scale industries will surge product deployment. Increasing infrastructural investments along with the ongoing refurbishment of existing industries will propel the industry expansion. In addition, the food & beverage industry is witnessing growth, meeting the rising demand for processed food and positively influencing product penetration.
Key companies operating across the North America industrial boiler market are The Fulton Companies, Babcock & Wilcox Enterprises, Cleaver-Brooks, Clayton Industries, John Cockerill, IHI Corporation, Hurst Boiler and Welding Co., General Electric, Doosan Heavy Industries & Construction, John Wood Group, Mitsubishi Heavy Industries, Forbes Marshall, Sofinter, Siemens, Thermax Limited, Rentech Boilers, Viessmann Climate Solutions, Miura America, Victory Energy Operation, and Groupe Atlantic.
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Some major findings of the North America industrial boiler market report include:
- The industry will gain an appreciable momentum owing to the rising demand for space heating across industrial boiler facilities.
- High-calorific value and the availability of abundant fuel supply are some of the prominent factors, favoring the deployment of oil-fired boilers.
- The surging establishment of new manufacturing facilities along with the increasing urbanization rate will favor the business scenario.
Table of Contents (ToC) of the report
Chapter 3 North America Industrial Boiler Market Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.3 Innovation & technology landscape
3.4 Regulatory landscape
3.5 COVID- 19 impact on the industry outlook
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter’s Analysis
3.9 Competitive landscape, 2021
3.10 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/north-america-industrial-boiler-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.